Wakefield Asset Management LLLP Invests $1.05 Million in CNX Resources Co. (NYSE:CNX)

Wakefield Asset Management LLLP purchased a new position in CNX Resources Co. (NYSE:CNX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 28,545 shares of the oil and gas producer's stock, valued at approximately $1,047,000.

A number of other large investors also recently modified their holdings of CNX. Principal Securities Inc. increased its stake in CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after buying an additional 691 shares during the period. SeaBridge Investment Advisors LLC increased its stake in CNX Resources by 0.8% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer's stock valued at $3,311,000 after buying an additional 759 shares during the period. Blue Trust Inc. increased its stake in CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer's stock valued at $64,000 after buying an additional 1,131 shares during the period. State of Alaska Department of Revenue increased its stake in CNX Resources by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 17,662 shares of the oil and gas producer's stock valued at $575,000 after buying an additional 1,190 shares during the period. Finally, Natixis Advisors LLC increased its stake in CNX Resources by 3.1% during the 3rd quarter. Natixis Advisors LLC now owns 41,644 shares of the oil and gas producer's stock valued at $1,356,000 after buying an additional 1,241 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Insider Activity at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the transaction, the insider now directly owns 13,925,000 shares of the company's stock, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CNX has been the topic of several research analyst reports. TD Cowen initiated coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They set a "hold" rating and a $27.00 target price on the stock. Truist Financial lifted their price objective on shares of CNX Resources from $34.00 to $35.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Morgan Stanley started coverage on shares of CNX Resources in a research note on Friday, January 10th. They issued an "underweight" rating and a $29.00 price objective on the stock. Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut shares of CNX Resources from a "neutral" rating to an "underweight" rating and lifted their price objective for the stock from $31.00 to $37.00 in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, CNX Resources presently has an average rating of "Reduce" and an average target price of $29.69.

CNX Resources Trading Down 1.1 %

Shares of CNX traded down $0.31 during midday trading on Monday, hitting $28.59. The stock had a trading volume of 3,083,482 shares, compared to its average volume of 3,812,660. CNX Resources Co. has a fifty-two week low of $21.00 and a fifty-two week high of $41.93. The business has a 50-day simple moving average of $30.78 and a two-hundred day simple moving average of $32.82. The firm has a market cap of $4.26 billion, a P/E ratio of -42.04, a price-to-earnings-growth ratio of 0.42 and a beta of 1.38. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX - Get Free Report) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. As a group, equities analysts forecast that CNX Resources Co. will post 2.18 EPS for the current year.

CNX Resources Profile

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.